Basics of Motorcycle Insurance Coverage
Before taking to the streets on your new motorcycle, you need to purchase motorcycle insurance. Not having insurance coverage puts you and the public at risk. If you get into an accident without having coverage, then you can end up paying thousands of dollars in out of pocket expenses. If you do have insurance, then make sure you understand what’s covered.
Like with auto insurance, motorcycle insurance should meet or exceed the minimum coverage required by law. Most states have a minimum of at least $15,000 for injuries and $10,000 for property damage. Injury coverage pays expenses that cause professional medical treatments, pain, suffering, and loss of wages. Property damage helps financially when it’s necessary to repair or replace vehicles or belongings.
Should You Upgrade Your Insurance?
Some people stick with the lowest coverage possible to keep their premium payments low. That does save money, but people who ride their bikes regularly may want to consider upgrading their policy. Some important things are not covered by a basic policy. A personal injury protection add-on will provide more coverage for any injuries sustained by you or the passenger on your bike. It might also extend to injuries you sustain in another person’s vehicle. Other important options to consider include uninsured motorist, underinsured motorist, motorcycle accessory, and comprehensive coverage.
You need to carefully choose your motorcycle insurance. If you don’t want to think much about it, then just get the minimum required in your state. But if you want more extensive coverage, then take time to consider all of your options. You want to get the best motorcycle insurance that you can afford. Make sure to get payments you can handle. Otherwise, your insurance will lapse and you’ll have no coverage.